Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
PM Narendra Modi will visit Assam today. PM will gift many projects. Modi will address a 'peace,
Actor John Abraham is in the news these days for his action film 'Attack'. 'Attack', which was re
NCRB Report 2021: 86 rape cases registered every day, 49 crimes against women every hour
The extent to which crimes against women are increasing in the country is reflected in the report
Prime Minister Narendra Modi has stressed the importance of water conservation and said that it i
Union Minister Anurag Thakur on Monday (September 11) once again cornered the opposition over the
Jagran Correspondent, Jaipur. The leaders of Rajasthan will take charge of the assembly election
On the occasion of Kargil Vijay Diwas 2024, PM Narendra Modi paid tribute to the brave martyrs. W
Sunrisers Hyderabad lost the match against Gujarat on Sunday. The guests defeated them by seven w
The excavation was carried out on the second day on Sunday in search of the 150-year-old step wel
Former Pakistan Prime Minister Imran Khan interacted with the media for the first time after the
